Chris Lloyd

Occasional accountant and tinkerer in IT, YFC odd jobber. Tweets are my views, no one else's

[Chris Lloyd @ChrisDPL]

Ed Ford telling it like it is, has been for a while and will continue to be unless radical change takes place

[Edward Ford @ChilderditchFms]

Name another industry where the grower or manufacturer is paid less than the cost of production—and has no say in the price.

In farming, that’s business as usual.

Where did it all go so wrong? 🤷‍♂️

[Chris Lloyd @ChrisDPL]

This is a great post on budget inheritance tax changes for farmers - advice on your own circumstances is critical. There are a lot of broad brush assumptions in the media about exemptions...

[Stuart @StuartMaggs]

I've been meaning to do a piece on Farming Companies hit by the #FamilyFarmTax. Similar principles apply to other trading companies. Stick with me, this is painful.

Alan and Bob, brothers, inherited their farms in the late 1970's when land was £1,000 an acre. 400 acres, a house and some kit means it's now worth £5m.

Alan is a sole trader with one daughter, Cath. Bob farms via a Ltd company and has one son, Dan. Both brothers lost their wives a few years back.

Alan and Bob die unexpectedly shortly after next April, and there's an IHT bill on both their estates of £735k each. The next gen can't afford to pay that from the income they generate of £50k p.a., so they both look to sell land to pay for it. You'd hope their circumstances were similar.

Cath sells 75 acres at £10k an acre. No CGT as she has just inherited it, and she pays off the inheritance tax. She's now farming 325 acres and things are much tighter.

Dan needs to get money out of the company. The company sells land, but has to pay corporation tax because there was no uplift in the company's land prices on death. He also needs to get that money out of the company, and that payment will be taxed as a dividend.

To pay the IHT bill of £735k, Dan has had to sell ~156 acres~, more than twice that of his cousin. He realises £1.56m, pays corporation and income tax of about £820k and only then gets the money in his own hands. He can then use what's left to pay the Revenue the inheritance tax.

Cath has sold 19% of her land, but Dan has had to sell 40% of his.

All circumstances are different. Get advice on your own position from someone you trust.

[janecraigie @janecraigie]

My @pressjournal column, yes it’s on the budget, APR and IHT. But it’s also on the rallies… looking at it from a PR perspective - things that I think are important if you’re going.

[Chris Lloyd @ChrisDPL]

Wise words @Ed_Farmer_Ford As an industry, we must complain and campaign on this but everyone affected needs to get advice and take action - soon. Succession conversations are not easy but they need to happen

[Edward Ford @ChilderditchFms]

🙏👍 @bencm305 - pictured here is me(left) my brother and business partner (middle) and my father W/O HiViz (retired from the business but still a sounding board)
Get your affairs in order fellow farmers. Now more than ever, succession planning AND IMPLEMENTATION is key 1/

[charles anyan Ⓜ️ @CharlesAnyan]

I’m not going to comment on the #Budget.

However if you are struggling as a result please talk to someone and if you want confidential advice from very talented people then call one of our wonderful charities.

The @FCNcharity helpline number is below.

#DontSufferinSilence 💪

[Chris Lloyd @ChrisDPL]

Very disappointing to see a poster for an event with a tagline "Dairy takes babies from their mothers" on an Elizabeth Line train in London

[Chris Lloyd @ChrisDPL]

@Itsharrietblack Can I have your autograph?

[martin williams @loosecollie]

If you saw @agricontract on BBC Breakfast this morning talking rural mental health, this is the event mentioned.
We will be hoping for plenty of friendly horns on the way down!
#combinechallenge #claas #lexion @MindCharity
https://t.co/Tqr8VOLS2A

[Chris Lloyd @ChrisDPL]

@jackhanson @DuncanWestbury @EnvAgency @HerefordshireWT @herefordtimes @DaveThroup @DwrCymru Where is that Jack?

[Hannah Morgan @HannahLMorgan93]

URGENTLY NEEDING A FOSTER MARE
We are heartbroken to say that shortly after giving birth last night, Daysee sadly passed away leaving a lovely colt foal behind. We will miss her terribly but now we need to find a foster mummy for him to give him the best chance🐴🐴
Please RT

[Chris Lloyd @ChrisDPL]

@KateCarless @WorcsCCC And they say romance is dead...

[Andrew Meredith @Merry_Meredith]

This is a brilliant partnership between Orkney Mart and YFC.

They give £1,000 to each competitor to purchase a beast for wintering and then recoup it when it's resold in the spring.

Would be great to see this idea spread further

https://t.co/PzyuOZs5wU

[Lily Layton @lilyylayton]

🐷🐓🐮🐑 DO YOU ATTEND LIVESTOCK MARKETS IN ENGLAND OR WALES?🐷🐓🐮🐑

I would really appreciate if you could spare 10 minutes to fill in this survey I am conducting for my Final Year Honours Research Project.

Thank you very much🌟

https://t.co/a5a1MjQS2G

[Chris Lloyd @ChrisDPL]

@DylanBeefy I was just doing exactly the same with my fantasy team!

[Chris Lloyd @ChrisDPL]

@SaraLlanover If you don’t mind going over the border then have a chat to Pinstone Communications in Leominster @PinstoneComms

[Chris Lloyd @ChrisDPL]

@waltjack71 @sainsburys @Tesco @1GarethWynJones @FarmersWeekly @FarmersGuardian @scottishfarmer @NFUtweets @natsheep @BBCNEandCumbria @FarmingUK @TheFarmingForum @BBCFarmingToday Hear hear Jack. I won’t buy non UK on principle but UK lamb is expensive - there’s a massive difference between production cost, what you sell it for and what I buy it for. Why?

[Rich Thomas 🏴󠁧󠁢󠁥󠁮󠁧󠁿🇬🇧🏴󠁧󠁢󠁷󠁬󠁳󠁿 @farmer_richiet]

George is a journalist who is mistakenly conflating old methane, from fossil fuels, with the methane that is (and has been for 000s of years) part of the ruminant & grassland cycle.

Don't be like George.

Best thing you can do for the planet? Use less fossil fuels. Simple.

[Doug Wanstall @DougWanstall]

another work of fiction by @the_brc THEY HAVE ALREADY INCREASED THE COST TO CONSUMERS
The British Retail Consortium (BRC) which represents supermarkets, said bird flu had caused some disruption to egg supplies, but added retailers were trying to minimise the impact on customers.

[Chris Lloyd @ChrisDPL]

@Ed_Farmer_Ford With some difficulty!

[Chris Lloyd @ChrisDPL]

@BryanWWebb I’m so sorry to hear - I had the honour of sharing a desk with Sheba for a number of days at Tyddyn Llan and she was a true character